FL H0471

Increases the annual limitation on homestead property tax assessment increases from 2% to 3% of the prior year's assessed value, effective upon approval of a related constitutional amendment (HJR 469 or similar).

Maintains the alternative limitation that annual assessment changes cannot exceed the percentage change in the Consumer Price Index for All Urban Consumers (U.S. City Average, 1967=100), whichever is lower.

Applies to homestead property reassessed annually on January 1, beginning in 1995 or the year following receipt of homestead exemption.

Takes effect contingent upon voter approval of the referenced constitutional amendment at the next general election or an earlier special election authorized by law.